Primo Brands Stock Targets 40% Gain Following Jefferies Retail Push Upgrade

Aditya Raghunath4 minute read
Reviewed by: Thomas Richmond
Last updated Mar 29, 2026

Key Stats for Primo Brands Stock

  • Price change for Primo Brands stock: 2%
  • $PRMB Share Price as of Mar. 27: $18
  • 52-Week High: $36
  • $PRMB Stock Price Target: $27

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What Happened?

Jefferies upgraded Primo Brands (PRMB) stock from “Hold” to “Buy”, setting a $25 price target, implying roughly 40% upside from where shares trade today.

The firm’s view is straightforward:

  • Primo Brands is no longer just a turnaround story.
  • It’s shifting from stabilization to growth, with retail opportunities now coming into focus.
  • Jefferies called the 2026 guidance both achievable and conservative, and said the stock simply doesn’t reflect the company’s true earnings power.

The numbers support that argument.

  • Primo Brands stock trades at just 10 times 2028 earnings, with a PEG ratio of 0.25 — a level that typically signals a stock is cheap relative to its growth.
  • Jefferies sees earnings growing at a 10% compound annual rate over three years.
PRMB Stock Revenue, EBIT & Free Cash Flow Estimates in Billion USD (TIKR)

Q4 2025 results gave the market something to work with, too.

  • Despite a 2.5% dip in overall net sales, adjusted EBITDA climbed 11% and margins improved by 260 basis points.
  • Premium brands Saratoga and Mountain Valley were a bright spot, with combined sales up 39% in the quarter alone.

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What the Market Is Telling Us About Primo Brands Stock

Primo Brands stock has been weighed down by integration headaches following its merger, particularly in its direct delivery business.

But the trajectory is improving. Customer service scores are recovering, on-time delivery rates are trending up, and new capacity for its premium brands comes online in the first half of 2026.

CEO Eric Foss, now about 100 days into the role, was direct on the earnings call: the investment thesis behind the merger is intact, and the focus is squarely on returning the business to growth.

PRMB Stock Valuation Model (TIKR)

The main risk is timing.

Management expects the top line to be back-half weighted in 2026, meaning investors may need patience before the full story plays out.

Still, with Primo Brands stock trading below fair value and multiple growth levers in play — retail expansion, premium brand momentum, and direct delivery recovery — Jefferies sees this as a buying opportunity before the earnings power becomes harder to ignore.

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How Much Upside Does Primo Brands Stock Have From Here?

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!

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